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PRESS DIGEST - MALAYSIA - April 5
April 5, 2012 / 1:21 AM / 6 years ago

PRESS DIGEST - MALAYSIA - April 5

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE STAR (www.thestar.com.my)

* AMMB Holdings Berhad announced yesterday that it had received the Finance Ministry’s approval, through Bank Negara, for the acquisition of a 100 percent equity interest in Kurnia Insurans, a unit of Kurnia Asia.

* Axiata Group Berhad will stay put in the Indian mobile market but is hoping to operate in a more stable regulatory environment, said its president and group chief executive officer Jamaludin Ibrahim.

The Indian Government’s recent revocation of 122 of the 2G licenses issued in 2008 had created uncertainty and angered foreign investors.

NEW STRAITS TIMES (www.nst.com.my)

* The government and the Election Commission will look into all the 22 recommendations submitted by the Parliamentary Select Committee (PSC) on electoral reforms before arriving at any decision.

BUSINESS TIMES (www.btimes.com.my)

* Petroliam Nasional Bhd (Petronas) capital expenditure will not be significantly affected even if the government rejects its plan to cut annual dividend, a research house said.

* Proton Holding’s all new sedan and maiden global car is called PREVE and costs 540 million ringgit ($176.27 million) to develop.

THE SUN (www.thesundaily.my/)

* The amendments to the University and University Colleges Acts to allow university students to take part in politics will be tabled on Monday, the deputy higher education minister said.

THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)

* A simmering family dispute in the house of Sapura, one of the Malaysia’s most illustrious bumiputra families, has spilled into the open.

In a legal challenge filed in the High Court in late February, patriarch Shamsuddin Kadir is demanding the return of shares and properties valued in excess of 450 million ringgit from his two sons.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com.my)

* Malaysian Electronics Materials Sdn Bhd, a wholly-owned subsidiary of Japan’s Sumitomo Metal Mining Co Ltd, is believed to have discontinued its bonding wire operations here in line with its parent’s plans to cease that portion of the business due to severe price competition and perceived lack of growth.

$1 = 3.0635 Malaysian ringgit

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